owner of the lakers

Who Is The Owner Of The Lakers?

Being a basketball fan, do you know about the owner of the Lakers? Lakers is a professional basketball team and is based in Los Angeles. This team plays its home games at Crypto.com Arena. In today’s article, I will tell you all information about whos the owner of the Lakers.

Who Is The Owner Of The Lakers?

The owner of the Lakers is Jeanie Marie Buss who is an American sports executive and president of the Los Angeles Lakers. She is the daughter of the former owner of the Lakers Jerry Buss. In the beginning, she entered the family business as general manager of the tennis team at 19.

About The Owner Of The Lakers History

Jeanie was born in Santa Monica, California to Joann and Jerry Buss. She was the third of four children and grew up with older brothers Johnny and Jim and younger sister Janie. Her parents got divorced in 1972. Due to this, Buss was emotionally abandoned. She attended World Team Tennis meetings along with her father. Her father Jerry was the owner of the Los Angeles Strings. After he passed away, his controlling ownership of the Lakers passed to his six children via Buss family trust. Each sibling received an equal vote.

At the age of 17, she moved in with her father at Pickfair. Later on, she became so familiar with the estate that she even led guided tours. Jeanie completed her college at the University of Southern California. Over here, she majored in business and graduated with honors.

The current owner of the LA Lakers earlier served as president of the Great Western Forum. Jeanie also bought the Los Angeles Blades professional roller hockey team. She got married to the volleyball player Steve Timmons in 1990. But the couple soon got divorced after three years. Buss announced on Twitter that she is in a relationship with comedian Jay Mohr in 2021.

Now, you must be wondering who owned the Lakers before Jerry Buss. Jack Kent Cooke was the former owner of LA Lakers. Under Buss’s leadership, the Lakers became Southern California’s most beloved sports franchise. He was hospitalized for several months while undergoing cancer treatment. Jerry Buss died due to kidney failure at Cedars-Sinai Medical Center, Los Angeles.

The Lakers were very successful under the Buss’ ownership. The team won 10 NBA championships under his tenure. In 2002, Buss took ownership of the Sparks and then sold the team in 2006. Jerry’s contribution to basketball were recognized by his induction into the Basketball Hall of Fame in 2010. Jerry Buss’s wife Joan Mueller had four children. Jerry Buss family members included Jim Buss, Jesse Buss, Joey Buss, Johnny Buss, Jessie Buss, and Janie Buss.

The Laker’s current owner Janie was one of the Top 20 Most Influential Women in Sports in 2005. Forbes even called Janie one of few powerful women in sports management. While ESPN said she is one of the most powerful women in the NBA. However, Johnson who played for the Lakers from 1979 to 1991 had also served as VP, coach, and part-owner of the organization.

In addition to the Lakers, Buss is the owner of the WOW: Women of Wrestling. The distribution for WOW is considered the largest media distribution platform for women’s wrestling in history. However, the owner of the Lakers Janie Buss’s net worth is estimated to be about $500 million dollars.

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FAQ

Does Jerry Buss Still Own The Lakers?

Jerry Buss was the owner of the Los Angeles Lakers from 1979 until 2013, when he passed away. Buss owned a 66% controlling interest in the Lakers, and at the time of his death, the ownership was passed down to his 6 children, each with an 11% stake.

How Much Of The Lakers Does Jeanie Buss Own?

But in short, the Buss family selling their 66% majority ownership stake would be an extremely complicated process that does not seem particularly likely, and comes down to a lot more than “does Jeanie want to sell the team.”

How Much Would It Cost To Buy The Lakers?

No one was paying $67.5 million for a team in a league some thought was on the verge of going out of business. In fact, the Lakers accounted for less than half of the final sale price, as the team and the Kings together were sold for just $24 million, according to Buss himself in the New York Times article.

How Many Owners Own The Lakers?

Buss Family Trusts
When he died, Jerry handed down the team’s ownership to his six children evenly at 11% each. His daughter Jeanie is currently the team governor and representative at NBA board meetings.

Conclusion

Jeanie is the first female controlling owner to guide her team to an NBA championship. The owner of the Lakers is known for much more than her billionaire status and ownership of several iconic business!

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